Hanesbrands (NYSE:HBI) Shares Gap Up – Time to Buy?

Hanesbrands Inc. (NYSE:HBI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $8.45, but opened at $8.93. Hanesbrands shares last traded at $8.73, with a volume of 1,005,680 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HBI. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $11.00 in a report on Tuesday. Stifel Nicolaus increased their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Barclays increased their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.90.

Hanesbrands Trading Down 1.1 %

The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The stock has a market cap of $3.08 billion, a P/E ratio of -13.25 and a beta of 1.58. The company has a 50-day simple moving average of $7.45 and a 200-day simple moving average of $6.19.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Hanesbrands by 481.0% in the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock worth $3,822,000 after acquiring an additional 430,534 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares in the last quarter. Whittier Trust Co. bought a new stake in Hanesbrands during the 3rd quarter worth approximately $51,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Hanesbrands during the 3rd quarter worth approximately $785,000. Institutional investors own 80.31% of the company’s stock.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.